Hong Kong: Which online travel agencies are best at turning awareness to purchase intent in Q1 2024?
From trivago to Klook, how effective are major online travel agencies in Hong Kong at converting awareness of their brand to an intention to book their next trip on their platform?
In today’s competitive travel market, brand conversion is essential for online travel agencies (OTAs) to maintain and grow their market share. Analysing data from YouGov BrandIndex – which continuously tracks key measures of brand health on thousands of companies around the world every day – we compare how successfully the most well-known online travel agencies in Hong Kong have been at guiding travellers and holidaymakers down the conversion funnel, as of the first four months of 2024.
Stage 1: Awareness – Which travel agencies are most well-known in Hong Kong?
Leading the pack in brand awareness are trivago (66%), Trip.com (65%) and Booking.com (64%) which around two-thirds Hong Kongers have heard of – although Expedia (61%), Agoda (60%) and Klook (60%) follow closely after, with around three in five Hong Kongers aware of these platforms.
Stage 2: Consideration – Which travel companies are best at guiding consumers from discovery to evaluation?
When it comes to converting awareness to consideration, trivago (46%) and Trip.com (45%) remain neck to neck: more than two in five Hong Kongers who are aware of each platform would consider them while finalising travel bookings.
Meanwhile, just under two-fifths of Hong Kongers who know about Booking.com (39%) and Expedia (38%) would consider bookings with each platform the next time they travel, while for Agoda (35%) and Klook (34%) that proportion is closer to a third.
“In competitive markets like Hong Kong, where online travel agencies (OTAs) have similar levels of brand awareness and consideration, brands need to implement strategies that can effectively differentiate them and enhance conversion rates. By leveraging social proof, strengthening loyalty programs, utilising influencer partnerships, and improving customer service, brands can effectively differentiate themselves and improve conversion rates”, notes Eva Stewart, Global Sector Head of Travel & Tourism at YouGov.
Stage 3: Purchase Intent – Which travel companies are best at getting consumers ready to purchase?
When it comes to being the top choice for consumers who are ready to make a booking, trivago extends its lead over its closest rivals. Among Hong Kongers who consider the platform for travel bookings, two in five (40%) are likely to choose it for their next trip.
In comparison, around a third of Hong Kongers who are considering Trip.com (36%) and Booking.com (35%), and a quarter who are considering Expedia (25%), Agoda (25%) and Klook (24%), indicate that they are most likely to use these platforms the next time they make travel bookings online.
This article is part of our regional series on the Purchase Funnel performance of Online Travel Agencies across key markets in APAC. Read the companion pieces for other markets below:
Methodology: YouGov BrandIndex collects data on thousands of brands every day. Awareness scores measure whether consumers have ever heard of a brand. Consideration scores measure whether consumers would consider a brand the next time they are in the market for a particular product or service. Purchase Intent scores measure how likely consumers are to purchase from a specific brand, out of various brands they would consider buying from. Learn more about BrandIndex.
Cover Photo from Asia-Pacific Images Studio